Among the entities we can find AusPayNet, the Australian Banking Association (ABA), Australian Financial Crimes Exchange (AFCX, the financial and cybercrime intelligence exchange), and IDCARE (Australia and New Zealand’s national identity and cyber support service).
The coordinated approach will build on existing industry efforts by focusing on five pillars of work:
Adding to the data collection process by consolidating and expanding data collection on scams and generating insights to help drive scam-prevention responses (led by AFCX).
Improving knowledge and information sharing among industry participants to better respond to evolving scam trends and evaluate the impact scam prevention efforts are having (led by AusPayNet).
Maximising customer awareness of scams by developing and implementing industry-wide programs to facilitate greater awareness of scams and where to go for help (led by ABA).
Minimising the impact of scams on affected customers by ensuring they receive clear, effective, and timely support and staff are well trained to assist them (led by AusPayNet with specialist input from IDCARE).
Setting industry standards by collaborating to determine best practice and ensuring more consistent industry positions, stakeholder engagement, responses to scams and customer support (led by AusPayNet).
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